BOND COMPLEXITY : HIGHISIN: XS3531960907
MUFG 7.375% Perpetual Corp (AUD)
MITSUBISHI UFJ FINANCIAL GROUP, INC. (MUFG)
Indicative Bid Price
99.717
Bid Yield to Worst
7.433%
Bid Yield to Call
7.437%
Min. Investment (Nominal)
250000
Indicative Ask Price
99.908
Ask Yield to Worst
7.391%
Ask Yield to Call
7.393%
Next Call Date
14 Jan 2032
Credit Rating (Bond)
Non-Investment Grade
Seniority
Capital Structure
Investor Profile
High Yield Seeker
Chart
Created with Highcharts 9.3.2Bid Yield to WorstAsk Yield to WorstBid Yield to CallAsk Yield to Call8. Oct7.3757.47.4257.457.4757.5FSM Global
Bond Information
Mitsubishi UFJ Financial Group, Inc. (MUFG) is a holding company established through the merger of Mitsubishi Tokyo Financial Group and UFJ Holdings. As a financial group, the Company provides a variety of financial and investment services including commercial banking, trust banking, international finance, and assets management services.
Bond Issuer
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Guarantor
-
Announcement Date
07 Oct 2026
Issue Date
18 Oct 2026
Maturity Date / Next Call Date
Perpetual / 14 Jan 2032
Years to Maturity / Next Call
Perpetual / 5.263
Issue/Reoffer Price
100.000
Issue/Reoffer Yield
7.375
Coupon Type
Variable
Annual Coupon Rate (%)
7.375
Annual Coupon Frequency
Semi Annually
Seniority
Junior Subordinated
Exchange Listed
Others
Reference Rate
Reset date: 15 January 2032 and 5 year thereafter
Reset Rate: AUD SWAP Semi-Annual Rate + Initial Spread (2.332%)
ISIN
XS3531960907
CUSIP
DR6960907
Bond Currency
AUD
Total Issue Size
AUD 500,000,000
Minimum Investment Quantity (Nominal)
AUD 250,000
Incremental with Min Investment Quantity (Nominal)
AUD 1,000
Bond Registration
Wholesale
Bond Type
High Yield Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/A-
Bond Credit Rating (S&P/ Fitch)
***/BB+
Shariah Compliant
No
W-8BEN Declaration needed 
No
Bond Feature(s)
Additional Tier 1

Principal write-down upon a Capital Ratio Event

If a Capital Ratio Event occurs, on a Going Concern Write-Down Date (as defined in the Conditions), the principal amount of the Securities will be written down, as more fully described in the Conditions, to such extent determined necessary by the Issuer after consultation with the FSA or any other relevant Japanese supervisory authority that such write-down and a write-down of the principal amount of (or conversion into equity, if applicable, of) all other outstanding debt securities that are intended to qualify as our Additional Tier 1 capital, which is triggered by the same Capital Ratio Event, will result in an increase in the Issuer's consolidated Common Equity Tier 1 ratio to a sufficient level exceeding 5.125%. If this write-down mechanism, when implemented to the full extent, is expected to result in an increase in the Issuer's consolidated Common Equity Tier 1 ratio to a level short of 5.125%, the principal amount of the Securities per AUD1,000 in principal amount at issuance will be reduced to one cent per AUD1,000 of the principal amount at issuance, and no interest will accrue on the Securities thereafter. Holders of the Securities will be deemed to have irrevocably waived their right to claim or receive payments of principal of or interest on the Securities to the extent of such write-down.

A "Capital Ratio Event" will be deemed to have occurred when the Issuer's consolidated Common Equity Tier 1 ratio reported or publicly announced by the Issuer declines below 5.125%, as more fully defined in the Conditions.

Principal write-down upon a Non-Viability Event

If a Non-Viability Event occurs, on a Write-Down and Cancellation Date (as defined in the Conditions), the full principal amount of the Securities will be permanently written down to nil, the Securities will be cancelled, and holders of the Securities will be deemed to have irrevocably waived their right to claim or receive any payment of principal of or interest on the Securities.

A "Non-Viability Event" will be deemed to have occurred at the time that the Prime Minister of Japan confirms (nintei) that any measures (tokutei dai nigo sochi) set forth in Article 126-2, Paragraph 1, Item 2 of the Deposit Insurance Act (as defined in the Conditions) (or any successor provision thereto) need to be applied to the Issuer.

"Write-Down and Cancellation Date" means, upon the occurrence of a Non- Viability Event, the date that shall be determined by the Issuer after consultation with the FSA or any other relevant Japanese supervisory authority and shall be no later than ten Business Days following the date of the Write-Down and Cancellation Notice (as defined in the Conditions).

Principal write-down upon a Bankruptcy Event

Immediately upon the occurrence of a Bankruptcy Event, the full principal amount of the Securities will be permanently written down to nil, the Securities will be cancelled, and holders of the Securities will be deemed to have irrevocably waived their right to claim or receive any payment of principal of or interest on the Securities.

A "Bankruptcy Event" will be deemed to have occurred when a Japanese court has commenced bankruptcy proceedings, corporate reorganisation proceedings or civil rehabilitation proceedings with respect to, or special liquidation proceedings (tokubetsu seisan) have commenced by or with respect to, the Issuer in Japan or when the Issuer has become subject to similar proceedings in any other jurisdiction, as more fully defined in the Conditions.

Agreement to principal write-down

By subscribing for, purchasing or otherwise acquiring the Securities, holders of the Securities acknowledge and agree to a principal write-down under the terms of the Securities.
Optional cancellation of interest payments

If the Issuer determines that it is necessary to cancel payment of the interest on the Securities at any time and in its sole discretion, the Issuer may cancel payment of all or part of the interest accrued on the Securities on an Interest Payment Date.

Among other circumstances, the Issuer will make a determination to cancel interest payments if and to the extent the Issuer fails to meet the applicable regulatory capital buffer or leverage ratio buffer requirements and implements a capital distribution constraints plan submitted to the FSA (as defined in the Conditions) pursuant to an order of the FSA under the Japanese capital distribution constraints system. Notwithstanding the foregoing, the Issuer may determine that it is necessary to cancel payments of interest on the Securities due to other factors in its sole discretion.

Mandatory cancellation of interest payments

The Issuer will be prohibited from paying, and shall cancel, all or part of the interest on the Securities on an Interest Payment Date, if and to the extent that the interest payable on the Securities on such Interest Payment Date exceeds the Interest Payable Amount.

"Interest Payable Amount" means, as more fully defined in the Conditions, in respect of any Interest Payment Date, the product of the Adjusted Distributable Amounts on such Interest Payment Date and a ratio, the numerator of which is the amount of interest that should have been paid on the Securities on such Interest Payment Date, and the denominator of which is the aggregate amount of interest that should have been paid on the Securities on such Interest Payment Date and dividends or interest that should have been paid in respect of any Senior Dividend Preferred Shares (as defined in the Conditions) and any Parity Securities (as defined in the Conditions) on the same date as such Interest Payment Date.

"Adjusted Distributable Amounts" means, as more fully defined in the Conditions, in respect of any date, the distributable amounts (bunpai kano gaku) of the Issuer on such date as calculated in accordance with the Company Law of Japan, after deducting the sum of any dividend or interest that has been paid in respect of the Securities, any Parity Securities and any Junior Securities (as defined in the Conditions) from the beginning of the fiscal year of the Issuer in which such date falls until the date immediately preceding such date.

Cessation of accrual of interest

No interest shall accrue on the Securities (i) during the period when the principal amount of the Securities then outstanding is one cent per AUD1,000 in principal amount at issuance, (ii) after the date fixed for redemption, or (iii) during any period when a liquidation proceeding (seisan) in respect of the Issuer commences and continues under the Company Law of Japan.

Agreement to interest cancellation

By subscribing for, purchasing or otherwise acquiring the Securities, holders of the Securities acknowledge and agree to a cancellation of interest payments under the terms of the Securities as set out in the Conditions.
The Securities may, subject to prior confirmation of the FSA (as defined in the Conditions) (if such confirmation is required under the Applicable Banking Regulations (as defined in the Conditions)), be redeemed at the option of the Issuer, in whole, but not in part, on the First Reset Date or a subsequent Reset Date occurring on each five-year anniversary thereafter, on not less than 25 days nor more than 60 days' prior notice to the Holders and the Trustee, at a redemption price equal to 100% of the principal amount at issuance of the Securities plus accrued and unpaid interest to (but excluding) the date fixed for redemption, on the condition that the principal amount of the Securities then outstanding equals the principal amount at issuance of the Securities.

15 January 2032 (the "First Reset Date") and each fifth anniversary date thereafter.
The Securities are intended to qualify as our External TLAC and as a result, the value of the Securities could be materially adversely affected, and you may lose all or a portion of your investments.

The Securities are intended to qualify as our External TLAC, debt under the Japanese TLAC Standard. The Securities are also intended to qualify also as our Additional Tier 1 capital under the applicable Japanese laws and regulations. As such, the Securities will be fully and permanently written down under their respective contractual terms, if the Issuer becomes subject to orderly resolution measures under the Deposit Insurance Act.

Redemption for regulatory reasons

The Securities may, subject to prior confirmation of the FSA (if such confirmation is required under the Applicable Banking Regulations), be redeemed at the option of the Issuer, in whole, but not in part, at any time, on not less than 30 nor more than 60 days' prior notice, at a redemption price equal to 100% of the principal amount of the Securities on the date fixed for redemption plus accrued and unpaid interest to (but excluding) the date fixed for redemption, if the Issuer determines after consultation with the FSA that there is more than an insubstantial risk that the Securities may not be partially or fully included in the Issuer's Additional Tier 1 capital under the applicable standards set forth in the Applicable Banking Regulations.
Price History
(Daily prices for the last 3 months), if you wish to view more than 3 months price history you may export the file
DATE
BID PRICE
ASK PRICE
ASK YIELD (CALL)
ASK YIELD (WORST)
08 Oct 202699.71799.9087.3937.391
07 Oct 202699.50099.7507.4307.426
Total of 2 entries
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FSM Global strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.
Credit Rating

There are no credit rating changes for this bond for the past 3 years.

Related Documents
pdfIcon
Preliminary Pricing Supplement
A$[•] [•]% Fixed Rate Resetting Perpetual Subordinated Debt Securities.
pdfIcon
Preliminary Offering Circular
AUD ● ● per cent. Fixed Rate Resetting Perpetual Subordinated Debt Securities. Preliminary Offering Circular dated 7 October 2026.
Related Bonds
BOND NAME

ISSUER

MATURITY DATE / NEXT CALL DATE
ASK PRICE
ASK YTM / YTW
BOND CREDIT RATING (S&P/FITCH)
action
MUFG 3.677% 22Feb2027 Corp (USD)

Mitsubishi UFJ Financial Group, Inc. (MUFG)

21 Feb 2027 99.612 4.645% p.a. ***/A-
MUFG 5.354% 13Sep2028 Corp (USD)

Mitsubishi UFJ Financial Group, Inc. (MUFG)

12 Sep 2027
(Next Call Date)
100.329 4.977% p.a. ***/A-
MUFG 5.197% 16Jan2031 Corp (USD)

Mitsubishi UFJ Financial Group, Inc. (MUFG)

15 Jan 2030
(Next Call Date)
98.685 5.536% p.a. ***/A-
MUFG 5.574% 16Jan2036 Corp (USD)

Mitsubishi UFJ Financial Group, Inc. (MUFG)

15 Jan 2035
(Next Call Date)
96.757 6.071% p.a. ***/A-
MUFG 5.159% 24Apr2031 Corp (USD)

Mitsubishi UFJ Financial Group, Inc. (MUFG)

23 Apr 2030
(Next Call Date)
98.509 5.585% p.a. ***/A-
MUFG 5.615% 24Apr2036 Corp (USD)

Mitsubishi UFJ Financial Group, Inc. (MUFG)

23 Apr 2035
(Next Call Date)
96.837 6.048% p.a. ***/A-
Total of 6 entries
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FSM's Fees
For more information, please refer to the Pricing Structure
For each Buy & Sell Order (Retail^, Wholesale, Bond Express)
Processing Fee
0.35% / Min. SGD 10*
Platform Fee
0.05% per quarter
Other Charges
Goods & Services Tax (GST)
9% (GST is applicable to Singaporean residents on FSM’s fee)
Order Processing Time
Buy Wholesale Bonds / SGS Bonds / Retail (All payment type)
Generally T+2 business days upon payment clearance
Sell Wholesale Bonds / SGS Bonds / Retail Bonds
Generally T+2 business days (Redemption proceeds will be credited on next day)
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Remark

  1. *Processing fee is subjected to a minimum of SGD 10 (or in its equivalent currency).
  2. ^ For the purchase of the Retail Bonds, FSM Global will be absorbing SGX related Charges, till further notice.
  3. T = Transaction Date
    The Order processing time refers to the order completion and reflected in your account.
    ^The Purchase date will be based on T date

Platform Charge
  1. For the purpose of benefiting from lower rates based on higher investment holding tiers, the effective platform fee rate is based on the total combined holdings of all FSM accounts under main account holder (including beneficiary accounts), while Stock / ETF / Cash Account holdings are excluded from the combined holdings amount.
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Note
  1. All fees and commission quoted are exclusive of Goods and Services Tax (GST).
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Potential Income Explained
Est. Payable Amount
AUD 1,104.06
Years to Call
5 years 2+ months
Est. Total Income
AUD 101,406.25
Yield to Call
-
Indicative Cash Flow
Nominal Value
AUD 250,000.00
  • 2032
    Jan
    Coupon
    AUD 9,218.75
    Early Redemption
    AUD 250,000.00
  • 2031
    Jul
    Coupon
    AUD 9,218.75
  • Jan
    Coupon
    AUD 9,218.75
  • 2030
    Jul
    Coupon
    AUD 9,218.75
  • Jan
    Coupon
    AUD 9,218.75
Disclaimer: Cash flow calculations are computed based on current coupon rate till next possible call or maturity date. Figures reflected are indicative and subjected to changes in case of any corporate actions.
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